Record Year for Swedish Songwriters – over SEK 2 Billion in Revenue

For the first time ever, STIM’s royalty revenues have exceeded SEK 2 billion. This is an increase of 7 percent compared with the previous year.

In 2017, money was distributed to over 1.8 million works, which is more than ever before. The number of works to which STIM distributes money is steadily increasing as the digital market grows.

“It is certainly gratifying to look back at a record year for Swedish songwriters. Interest in music is increasing and STIM has successfully adapted to today’s digital market,” says Karsten Dyhrberg Nielsen, CEO of STIM.

The online market accounted for the largest revenue increase, with a growth of 22 percent amounting to SEK 429 million in total. Today, a third of STIM-licensed revenue comes from digital services, and it is indeed apparent that streaming is driving growth.

“2017 was also the year in which we clearly saw the value of our shared licensing in ICE Services Ltd, which includes British PRS for Music and German Gema. It is an important strategic partnership, and it creates joint power in the increasingly globalised market for digital music services,” says Dyhrberg Nielsen.

At the same time, copyright is being challenged. EU rules regarding digital platforms with music that users upload themselves are outdated, which means that the platforms are able to sidestep their copyright responsibility for the music on the platforms. A new legislative proposal in the EU intends to address the issue commonly referred to as Transfer of Value.

“Legislation regulating this area was formulated at the turn of the millennium and needs to be modernised. STIM is advocating for clearer legislation, because a greater proportion of the value that the music gives the platforms should go to those who create the music. This is imperative for a long-term, sustainable digital music market with neutral competitive conditions,” says Dyhrberg Nielsen.

Another area experiencing considerable growth is live performances. Arena tours are becoming longer with additional shows, while ticket prices have largely increased.

The number of songwriters and music publishers affiliated with STIM has increased by 3.2 percent to 86,000. Swedish songwriters occupy the world’s top musical tier and the music they compose remains an important export product for Sweden.

“Behind this success is a long line of talented songwriters. Zara Larsson, Max Martin and Tove Lo are just a few of the artists putting Sweden on the musical map,” says Dyhrberg Nielsen.